Citizendia

Barclays PLC
TypePublic (LSE: BARC, NYSE: BCS, TYO: 8642)
Founded1690
HeadquartersLondon, England, UK
Key peopleMarcus Agius, Chairman
John Varley, Chief Executive
IndustryBanking
ProductsBanking
Investment banking
Investment management
Revenue£23,000 million GBP (2007)
Operating income£7,048 million GBP (2007)
Net income£5,095 million GBP (2007)
Employees149,000 (2008)
Websitewww.barclays.com
The Barclays Group is based in One Churchill Place, Canary Wharf
The Barclays Group is based in One Churchill Place, Canary Wharf

Barclays PLC is a major global financial services provider operating in Europe, the United States, the Middle East, Latin America, Australia, Asia and Africa. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The London Stock Exchange or LSE is a Stock exchange located in London, England. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The, or TSE, located in Tokyo, Japan, is the second largest Stock exchange market in the world by market value second only to the New York Stock London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. England is a Country which is part of the United Kingdom. Its inhabitants account for more than 83% of the total UK population whilst its mainland The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located Marcus Ambrose Paul Agius (born 22 July 1946) is a British Financier and businessman currently the Chairman of Barclays John Silvester Varley (born April 1 1956 Warwick) is a British banker currently Group Chief Executive of Barclays Bank. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need A commercial bank is a type of Financial intermediary and a type of Bank. Investment banks profit from companies and governments by raising money through issuing and selling Securities in the Capital markets (both equity and In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages One Churchill Place is a 156 m tall skyscraper with 32 floors and the present (as of 2008) headquarters of Barclays Bank. Canary Wharf is a large business and shopping development in London, located in the London Borough of Tower Hamlets, centred on the old West India Docks The United States of America —commonly referred to as the The Middle East is a Subcontinent with no clear boundaries often used as a synonym to Near East, in opposition to Far East. For a topic outline on this subject see List of basic Australia topics. It is a holding company that is listed in London, New York and Tokyo. A holding company is a company that owns part all or a majority of other companies' outstanding Stock. The London Stock Exchange or LSE is a Stock exchange located in London, England. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The, or TSE, located in Tokyo, Japan, is the second largest Stock exchange market in the world by market value second only to the New York Stock It operates through its subsidiary Barclays Bank PLC. It is also the current sponsor of the English Premier League. The Premier League, colloquially referred to as the Premiership, is an English professional league for football clubs

Barclays PLC is the 18th largest company in the world according to Forbes Global 2000 rankings (2007 list). The Forbes Global 2000 is an annual ranking of the top 2000 Public companies in the world by Forbes magazine Barclays PLC is the 4th largest financial services provider in the world by Tier 1 capital ($32. Tier 1 capital is the core measure of a Bank 's financial strength from a Regulator 's point of view 5 billion), and among the 10 largest banks in the industry by market capitalization ($94. Market capitalization/capitalisation (aka market cap, mkt cap or capitalized/capitalised value) is a measurement of Corporate or Economic 79 billion). It is the third largest bank in the United Kingdom based on market capitalization. Independent British banks The table shows the main independent British banks in order of market capitalisation The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located [1]

The bank's headquarters are at One Churchill Place in Canary Wharf, in London's Docklands, having moved there in May 2005 from Lombard Street in the City of London. One Churchill Place is a 156 m tall skyscraper with 32 floors and the present (as of 2008) headquarters of Barclays Bank. Canary Wharf is a large business and shopping development in London, located in the London Borough of Tower Hamlets, centred on the old West India Docks Docklands is the semi-official name for an area in the east of London, England, comprising parts of several boroughs ( Southwark, Tower Hamlets Lombard Street is a street in the City of London. It runs north-west from the corner of the Bank of England, where it meets a major intersection including For London as a whole see the main article London. The City of London is a geographically

Contents

History

This bank traces its roots back to 1690 in London. A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. The name "Barclays" became associated with the business in 1736, when James Barclay, son-in-law of one of the founders became a partner in the business. [2] In 1728, the bank moved to 54 Lombard Street, which was identified by the 'Sign of the Black Spread Eagle', over the years becoming a core part of the bank's identity. There are at least three famous Lombard Street s Lombard Street San Francisco, famed for its twists and turns Lombard Street London, leading [3]

Timeline

Constituents of the Barclays Group

Key management

Board of Directors [6]

Corporate Executives

Operating Unit Chief Executives

Other Corporate Directors

Organizational structure

Barclays is headed by Marcus Agius, the Group Chairman, who joined the Board on 1 September 2006 and succeeded Matthew Barrett as Chairman from 1 January 2007. Events 462 - Possible start of first Byzantine indiction cycle. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Agius is also the senior executive Director of the BBC and was formerly Chairman of BAA PLC, Chairman of Lazard in London and a Deputy Chairman of Lazard LLC until 31 December 2006. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.

Reporting directly to the Group Chairman is John Varley, the Group Chief Executive, who is responsible for the strategic direction and planning of all Barclays operations. Varley was appointed to the role in September 2004 prior to which he served as Deputy Chief Executive (January-September 2004) and Group Finance Director (2000-2003)

The operating units of Barclays are grouped under two umbrellas; Investment Banking and Investment Management (IB&IM) and Global Retail and Commercial Banking (GRCB). IB&IM oversees three core operating units: Barclays Capital, Barclays Global Investors (BGI) and Barclays Wealth Management.

GRCB oversees multiple operating units. Principally it has responsibility for UK Retail Banking (UKRB), Barclays Commercial Bank (formally UK Business Banking), Barclaycard and International Retail and Commercial Banking (IR&CB).

Branch of Barclays in Westminster
Branch of Barclays in Westminster

Branches

Barclays over 1800 UK high street branches (including former Woolwich branches) and it has also joined up with the Post Office Ltd to provide personal banking services to customers who live near a Post Office branch and those who need financial services such as secured or unsecured loans. For the UK's mail delivery service See Royal Mail Post Office Ltd (Swyddfa'r Post Cyf

Most Barclays branches have 24/7 ATMs. Barclays' customers and customers of many other banks can use Barclays ATMs free of charge.

Barclays is a member of the Global ATM Alliance. The Global ATM Alliance is a joint venture of several major international banks that allows customers of the banks to use their ATM card or Debit card at another bank [7]

Sponsorships

Since 2004, Barclays has sponsored the Premier League and, from 2006, the Churchill Cup. The Premier League, colloquially referred to as the Premiership, is an English professional league for football clubs The Churchill Cup (currently referred to as Barclays Churchill Cup for sponsorship reasons is an annual Rugby union tournament contested by representative It also sponsors the 2008 Dubai Tennis Championships [1].

Barclays also sponsored the Football League from 1987 until 1993, succeeding Today newspaper and being replaced by Endsleigh Insurance. The Football League, also known as the Coca-Cola Football League for sponsorship reasons is a league competition featuring professional football clubs Endsleigh Insurance is a Cheltenham -based UK insurance intermediary specialising in the student and graduate markets

Barclays' legal situation

Currently, a South African activist group, the Jubilee South Africa backed Khulumani Support Group, is seeking reparations from Barclays in addition to Citigroup, BP, Royal Dutch Shell, Ford, GM, and Deutsche Bank for their roles indirectly supporting the apartheid government in South Africa during the 1970s and 1980s. The Republic of South Africa (also known by other official names) is a country located at the southern tip of the continent of Africa BP plc, previously known as British Petroleum, is the third largest global Energy company, a multinational oil company (" Oil major Royal Dutch Shell plc, commonly known simply as Shell, is a multinational oil company of Dutch and British origins Ford Motor Company is an American Multinational corporation and the world's fourth largest automaker based on Worldwide vehicle sales, following General Motors Corporation ( GM) ( is a multinational automobile manufacturer founded in 1908 and headquartered in the United States. Deutsche Bank AG (literally "German Bank" ˈdɔɪtʃə,) is an international Universal bank with a broad private clients franchise headquartered in Ancient history The Bushmen See also Ancient History of South Africa Some three million years ago Ape -human-like Hominids The legal proceedings are being heard at the Second Circuit Court of Appeals in New York, and the South African Ministry of Justice is seeking dismissal of the case on the grounds that it undermines its national sovereignty. The United States Court of Appeals for the Second Circuit is one of the thirteen United States Courts of Appeals. New York ( is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous Brigitte Sylvia Mabandla (born November 23 1948 is the South African minister of public enterprises; and formerly the minister of justice and constitutional development [8]

Planned merger with ABN AMRO

In March 2007 Barclays announced plans to merge with ABN AMRO, the largest bank in the Netherlands. ABN AMRO is a Dutch bank currently owned by RFS Holdings BV, a consortium of Royal Bank of Scotland Group, Fortis Bank Nederland, and Banco Santander [9][10][11] However, on 5 October 2007 Barclays announced that it had abandoned its bid,[12] citing inadequate support by ABN shareholders. Events 869 - The Fourth Council of Constantinople is convened to decide about what to do about Patriarch Photius of Constantinople Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Fewer than 80% of shares had been tendered to Barclay's cash-and-shares offer. [13] This left the consortium led by Royal Bank of Scotland free to proceed with its $99. The Royal Bank of Scotland plc ( Scottish Gaelic: Banca Rìoghail na h-Alba) is one of the retail banking subsidiaries of the Royal Bank of Scotland Group 9 billion counter-bid for ABN AMRO.

To help finance its bid for ABN AMRO, Barclays sold a 3. 1% stake to China Development Bank and a 3% stake to Temasek Holdings, the investment arm of the Singaporean government. The China Development Bank ( CDB) ( is a financial institution in the People's Republic of China (PRC under the direct jurisdiction of the State Council Temasek Holdings is an investment company owned by the government of Singapore.

Financial problems

On 30 August 2007, Barclays was forced to borrow £1. Events 1363 - Beginning date of the Battle of Lake Poyang; the forces of two Chinese rebel leaders— Chen Youliang and Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. 6bn ($3. 2bn) from the Bank of England sterling standby facility. The Bank of England (formally the Governor and Company of the Bank of England) is a state-owned institution and the Central bank of the United Kingdom This is made available as a last-resort when banks are unable to settle their debts to other banks at the end of daily trading.

Despite rumours about liquidity at Barclays, the loan was necessary due to a technical problem with their computerised settlement network. A Barclays spokesman was quoted as saying "There are no liquidity issues in the U. K markets. Barclays itself is flush with liquidity. "[14]

On 9 November 2007, Barclays shares dropped 9% and were even temporarily suspended for a short period of time, due to rumours of a $10bn (£4. Events 694 - Egica, a king of the Visigoths of Hispania, accuses Jews of aiding Muslims sentencing all Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. 8bn) exposure to bad debts in the US. However, a Barclays spokesman denied the rumours. [15]

Subsequent write-downs at the bank were announced to be £1 billion ($1. 9 billion), much less than feared.

Controversy

Barclays helps to fund President Robert Mugabe's regime in Zimbabwe. See also Great Zimbabwe National Monument. For information about the March and June 2008 presidential elections see Zimbabwean presidential election [16] The most controversial of a set of loans provided by Barclays is the £30m it gives to help sustain land reforms that saw Mugabe seize white-owned farmland and drive more than 100,000 black workers from their homes. Opponents have called the bank's involment a 'disgrace' and an 'insult' to the millions who have suffered human rights abuses. [17] Barclays spokesmen say the bank has had customers in Zimbabwe for decades and abandoning them now would make matters worse, 'We are committed to continuing to provide a service to those customers in what is clearly a difficult operating environment". [18]

Due to Indian call centres, Barclays have made 100's of people in Manchester, Coventry and Sunderland leave their department and have to take on a new job role within the company.

Robert Diamond, a US-born banker on the board of Barclays, was set to receive a £14. Robert Edward "Bob" Diamond Jr (born Springfield Massachusetts, July 27, 1951) is an American Banker who is currently 8m bonus in 2008 even though the subprime mortgage crisis in the US forced his group to take a £1. The subprime mortgage crisis is an ongoing financial crisis characterized by contracted Liquidity in global credit markets and Banking 6bn hit in 2007. [19]

Bibliography

See also

Notes

  1. ^ Frankenhoff, Will. The European Financial Services Roundtable (EFSR is a European organization located in Brussels, Belgium, of financial service companies to provide a voice on policies "Time to Bank on Barclays: Despite last year's advance, shares of Barclays have further room to run in 2007", 'Motley Fool', MSNBC. The Motley Fool is a commercial Website about Stocks investing, and Personal finance. com, January 9, 2007. Events 475 - Byzantine Emperor Zeno is forced to flee his capital at Constantinople. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Retrieved on 2007-01-30. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 1648 - Eighty Years' War: The Treaty of Münster is signed ending the conflict between the Netherlands and Spain  
  2. ^ Company History. Barclays Newsroom: Business History. Barclays. Retrieved on 2007-01-30. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 1648 - Eighty Years' War: The Treaty of Münster is signed ending the conflict between the Netherlands and Spain See also: Barclays: The Business of Banking, 1690-1996 by Margaret Ackrill and Leslie Hannah; Cambridge UP, 2001 ISBN 0-52179-035-2
  3. ^ Company History. Barclays. com. Barclays. Retrieved on 2008-05-11. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 330 - Byzantium is renamed ''Nova Roma'' during a dedication ceremony but is more popularly referred to as Constantinople
  4. ^ Internet Archive Wayback Machine
  5. ^ Comparetheloan - Cheap Homeowner Loans , Compare Loans , UK Secured Loans
  6. ^ Barclays Bank Website, Board of Directors
  7. ^ "Five big banks form Global ATM Alliance", ATMmarketplace. com. January 9, 2002. Events 475 - Byzantine Emperor Zeno is forced to flee his capital at Constantinople. See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. Accessed June 22, 2007. Events 217 BC - Battle of Raphia: Ptolemy IV of Egypt defeats Antiochus III the Great of the Seleucid kingdom. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  8. ^ Barclays faces apartheid court action. Julia Kollewe, 21 January 2006.
  9. ^ Barclays and ABN AMRO Announce Outline of Preliminary Discussions
  10. ^ http://www.abnamro.com/pressroom/releases/2007/2007-03-20-en.jsp
  11. ^ Barclays Bank Makes Inquiry on Takeover of ABN Amro - New York Times
  12. ^ BBC NEWS | Business |Barclays abandons ABN Amro offer
  13. ^ Free Preview - WSJ.com
  14. ^ Bloomberg.com: U.K. & Ireland
  15. ^ BBC NEWS | Business |Barclays denies bad debt rumour
  16. ^ Barclays bankrolls Mugabe’s brutal regime
  17. ^ Barclays' millions help to prop up Mugabe regime
  18. ^ Barclay's 'helping to fund Mugabe regime'
  19. ^ Barclays director lands £14.8m bonus
  20. ^ From a copy of Barclays Bank Limited 1926-1969 published by Barclays Bank Limited London in 1972. London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. A hardback with 167 pages and with no reference to an ISBN
  21. ^ From a copy of The Eagle Looks Back published by Barclays Bank Limited (Spread Eagle) London 1951 with no ISBN

References

External links


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